Zhi Tong Cai Jing·2026-02-05 10:04Core Viewpoint - China Power (02380) announced a procurement contract for a Battery Energy Storage System (BESS) with Tori Company, valued at RMB 452 million (approximately HKD 507.9 million) [1] Group 1: Contract Details - The contract is set to be executed on February 5, 2026, and involves New Source Intelligent Storage, a non-wholly owned subsidiary of the company, supplying energy storage system equipment and components along with related services for the Tacheng project [1] - The contract price aligns with current market rates for similar energy storage system equipment and services offered by other companies [1] Group 2: Strategic Implications - This procurement will enable New Source Intelligent Storage to gain market share and build capabilities in the energy storage sector, supporting the company's strategic goal of transforming into a comprehensive green low-carbon energy supplier and service provider [1] - The board believes that the terms and pricing of the BESS procurement contract are competitive compared to what the company charges independent third parties [1]